Member Info for mrc_mrc_mrc_mrd

Great contribution big D.

More hopes and dreams.

One day m8

Lol big pot, you have not understood have you?

Dear oh dear

No I didn’t say that Chris. This will not be drilled in November IMHO.

Risks are too high with SCIR IMHO. Lightly traded share, poorly managed, history of failure.

So do you think the BOD are batting away cash offers with a ****ty stick? Why would they allow this uncertainty if funding is such a dead cert?

I didn’t think AEX had any cash for acquisitions?

Which RNS is that?

It does Seav, but a lot of the big tickets will be priced in USD like drill rig rates, kraken lease costs(?), USD debt interest, etc etc.

Labour will be cheaper.

Just to add Chris- I don’t see relinquishment as giving an asset away for free. I see it as releasing the company from future liabilities.

Ruvuma needs to go one way or the other so that a new BOD can come in and build up this AD business (if in fact it is a profitable enterprise).

Chris - sorry for not getting back to you right away.

Yes I think pre drill relinquishment now. They seem to be struggling for funding (even the massively diluting type). No good reason why they have not put funding in place. So my conclusion is that nobody will chip in.

My assumption previously was that they would get funding to drag this further down the road. Given the macro environment I now think funding options will have dried up. This could explain why we haven’t put something in place.

https://shipandbunker.com/prices/emea/nwe/nl-rtm-rotterdam

You can plot against Brent here.

I guess it is the retail price essentially so don’t think you can don’t think you can compare in real time. There is some inertia to the VLSFO price.

Get a grip Board police office L7. Nothing wrong with a recommendation as long as it’s not spammy. Romaron has contributed a lot to this board and I’m sure many would be interested in his research.

If you don’t like it report the post.

The Gneiss guys are not gamblers. They will have priced the retainer and any sale rewards to get what they want out of the deal no matter what happens.

BOD are looking weak AF IMHO.

We are looking at a clear out and strategy review now IMHO.

Prolific and Gneiss have us bent over now.

Getting a little close for comfort. Relinquishment could come earlier than I expected.

China are doing the world a favour with their foolish covid zero policy.

When the EU cuts oil imports supply side will take a big hit. The Russians can’t easily re route their oil. Prices will have to rise. Chinas self harm will help Cushion the blow
For everyone else IMHO.

Picked up a few more. bTMFD Y’all

Unlucky newdealz you hold Solo oil / Scirroco :(

Lack of funding news is worrying.

BOD are not giving me much confidence TBH

Pretty sure this land is not arable. it is sitting there being unproductive at the moment. Probably loss making.

If he had got off his backside and had planning in place then the CfD round would have come into play, which would have opened up debt funding. Too late for that now.

I really see no excuse for the lack of progress here.

Furthermore we have been told for years that studies are underway. Well I’m sorry but studies do not take years.

I am happy enough to not see updates on the oil and gas projects (certainly pre Ukraine). Largely out of Toms hands and no point in putting out bull**** announcements like some companies do.

It’s really pitiful earnings compared to their main loss making business of giving contracts to their pals.

Son of

Why buy land and sit on it when you have cash to develop and nothing else to spend it on??

Cash has been sitting in the company for the last 7 years doing F all.

As the kids say, BTMFD.

I picked up a few more this morning.

Seems likely other bigger players will be rotating into shares like ENQ, so I think the fragile rallies that characterised the last 5 years are history. This feels like a proper rerate.

https://www.bloomberg.com/opinion/articles/2022-04-21/war-in-ukraine-the-second-wave-of-russia-s-oil-shock-is-starting

A great point SHS - perhaps all spare cash flow is still being used for upgrades? Certainly squirrelling cash off SCIRs books makes no sense unless it is needed for upgrades or near term working capital.

I doubt we will get the answer.